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Jiwa GL - Account Maintenance

In this article we look at how to create General Ledger accounts in Jiwa.

 

Overview

General Ledger account codes in Jiwa can be set-up to contain up to 50 alphanumeric characters which can be further divided into 6 distinct segments.  This flexibility accommodates both users with very simple account structures right up to those users with more complex structures.

The structure of your General Ledger accounts would have been determined during your Jiwa implementation phase.

 

Parent and Posting Accounts

Jiwa has 2 types of accounts

  • Parent Accounts - These are read only accounts and are only created when you have 2 or more segments in your account structure.  All child accounts are consolidated up to the parent account/(s).
  • Posting Accounts - These are accounts that can be posted to

 

To demonstration this hierarcy in the following example we have a simple account structure that is made up of 2 segments

Account (5 Characters) - Sub Account (2 Characters)

M/V Expenses are consolidated because there are 2 sub accounts linked to the main account 60000.

 

In the following example we have a slightly more complex account structure of 3 segments.

Account (5 Characters) - Branch (3 Characters) - Sub Account (2 Characters)

As you can see with the additional segment we now have 2 levels of consolidation

  • The primary parent account is consolidated based on the account number, and
  • The secondary parent account is consolidated based on the account number and branch

The greater the number of segments in the account structure the greater the number of parents accounts that are created by Jiwa.

 

Control Accounts

The Debtors, Creditors and Inventory ledgers post to the General Ledger using control accounts which are set and maintained against each modules classifications.  These classification set the default control accounts against each individual Debtor, Creditor and Inventory account.

Control accounts must be posting accounts they cannot be parent accounts.  If you intend to change a control account from a posting account to a parent account please contact your Jiwa Consultant.

 

 

Creating GL Accounts

Before creating a new account you should consider the following;

  • Where in the ledger is the account required, in the Profit & Loss or Balance Sheet section?
  • If the new account is a Balance Sheet account what type of account is it eg. Current Asset, Fixed Asset, Current Liability
  • What is the new account number

If you are not sure on any of these details discuss your account requirements with your Accountant.

 

From the menu select General Ledger | Maintenance

 

From the menu ribbon select New

 

In the Account No. field enter in your account number.

Use the segments section of the account to confirm the structure your account number must take.

 

In the Description field enter in a description for your account, this is the description that will appear on all General Ledger reports.

The Details field can be used to provide an additional description of the account or to provide an explanation as to the purpose of the account.

 

Assign your account to a Category by clicking on the lookup icon next to the field to open the Category Search form.

 

The account Sign is automatically set when the category is selected this should not be changed.

 

 

Confirm the account Classification

 

Classification Description
Normal

All accounts will fall into this classification with the exception of ;

  • Bank accounts,
  • Sub ledger control accounts,
  • Retained Earnings account
Bank

This classification should only be used for accounts that you want to pay into or out of.

Only accounts with the classification of Bank will appear for selection in the Cashbook, Bank Reconciliation and in the Creditor EFT/Cheque Payment and Creditor Payment forms.

Creditors Control

Used for Trade Creditor control accounts only.

This classification is currently not used by Jiwa and is only a reference.

Debtors Control

Used for Trade Debtor control accounts only.

This classification is currently not used by Jiwa and is only a reference.

Inventory Control

Used for Inventory Value control accounts only.

This classification is currently not used by Jiwa and is only a reference.

Retained Earnings Account that undistributed profits or losses are posted to during the yearly roll-over process

 

From the menu ribbon select Save to create your new account. 

 

Parent Accounts

Jiwa will automatically create the parent account/(s) when a new account is created at a posting level.

If we follow on from the example above a new account will be created for Employee Amenities VIC 1300-300-00

 

When the account is saved the following message will appear indicating that the main account will now become a parent account.

Select Yes at the prompt if you are happy to proceed

 

The account is now created and updated with the parent account details

 

The main account is now updated to a parent account

 

 

GL Account Tabs 

Figures Tab

This tab displays a summary of the accounts opening and closing balances as well as the monthly movement.

General Ledger Budgets are also maintained in this tab, up to 3 different budgets can be entered.  Creating and maintaining budgets are covered in a separate article.

 

Postings Tab

The posting tab is where specific information relating to how the account used.  The options available are described in the table below.

If you are considering using any of these options please contact your Jiwa Consultant to discuss your requirements.

Option Description
Clearing Account

Used to transfer the balance in the account to another account.  

Transaction Codes

Used for additional reporting purposes where journal postings must be assigned to a transaction code.

Disperse Journal Postings Enables the apportionment of journal postings across multiple accounts based on the pre-set percentage, for example dispersing rent expense across multiple branches or divisions automatically.

 

 

Transactions Tab 

All transactions relating to the account can be viewed from this tab.

 

This video is best seen on the full screen. Just click on the icon at the bottom right of the video (see image below).

To exit full screen just press escape 

 

VideoFullScreen.jpg

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